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The biggest United States bank - the Bank of America is found in Charlotte, N.C..
A lot of people knows about Countrywide Financial - the institution that obtained a loan of around four billions USD, and finally caused for a mortgage crisis. Exactly the Bank of America invested the money in stock capital of Countrywide Financial.
As a result of this financial operation the bank of America became an owner of the greatest consumer bank all over United States. This transaction was very successful - on one hand Countrywide Financial avoided the bankruptcy, on the other hand Bank of America improved its positions on market.

Nowadays you can find Countrywide REO homes or BofA REO on many internet portals. Many sites provide foreclosure listings as paid serivice, but you can easily find trusted web resources where bank foreclosures is in free access including bank owned foreclosures, government foreclosures, HUD foreclosures, tax liens, FHA foreclosures, VA foreclosures, and other types of foreclosure properties. You can visit some of them:
www.indexpost.com - free foreclosure listings and bank foreclosures database;
www.reodev.com - REO properties and foreclosed homes listings for free.

Take into account, that this operation let the BofA have its own part in 25% of mortgage home loans in the America. This case is simply one example out of great number of cases, when financial institution gets substantial advantages after dealing with trouble lenders. These loans are also called subprime loans, of course this situation attracted a lot of attention, all problem lenders were investigated. Normally as a source of money for mortgages banks use the money saved on deposit accounts by clients. But Countrywide Financial works according the different scheme, it operates on Wall Street as a borrower, so it receives amount of money enough to invest it in mortgages, and finally sell these mortgages on secondary market.

These transactions are repeated again and again, which enables the lenders and borrowers get their additional money. This scheme worked without problems until we faced the mortgage crisis. After the Countrywide Financial became the part of the Bank Of America, the latter obtained over 5800 branches located in 31 different states in US.

Also Bank of America controls 700 loan offices and 200 banking centres situated all over the United States of America.
Taking into account that a number of borrowers loose their real estate at the end, this input of money is highly successful deal for Countrywide Financial executives.
In the nearest plans of BofA is to take a decision which will give a chance around 260 thousand borrowers with bed debts save their homes. It will happen owing to modifying more then 40 billion US dollars of mortgages. All this is planned to to be held during the next two years. A big number of borrowers with bad debts results into increase of Countrywide foreclosures amount.

Search for thousands of Countrywide REO and foreclosure homes nationwide.